The 65,000-sf first phase of the West Lake Medical Center near the intersection of Bee Cave Road and Capital of Texas Highway in the southwest submarket is 100% leased and has a waiting list, according to developer Rip Miller of Miller Consulting. He tells GlobeSt.com that he has commitments for 57% of the 70,000-sf phase II. "I'd hope to be at least 75 before we break ground," he says.
The demand for space from medical service providers is part of the game of catch-up that they and retailers are playing to the Austin area's growth of the past five years, he says. "We're seeing a lot of new doctors, some more established physicians that are moving from more congested areas out to West Lake so they're nearer their homes, their golf courses, their children going to school and making the patients comes to them," Miller says.
The second phase of his development breaks down into 20,000 sf for an outpatient surgery hospital; 20,000 sf for a rehabilitation hospital; 2,500 sf for a minor emergency center; 10,000 sf for a sports therapy and sports enhancement center; and 15,000 sf for general medical offices. The first phase includes a HealthSouth rehabilitation center, physician and dentists offices and other medical offices.
Before Miller can get started, he has to get zoning approval from the West Lake Hills City Council. The West Lake Hills zoning board has recommended the zoning and the council is to vote Oct. 10. Miller says dirt could fly in the first quarter if council grants approval.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.